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QUESTION
Answer the following: Question: An inflationary gap occurs: when the equilibrium level of GDP exceeds potential GDP b. whenever there is an upward...
Answer the following:
Question: An inflationary gap occurs:
a. when the equilibrium level of GDP exceeds potential GDP
b. whenever there is an upward shift in the aggregate supply curve
c. whenever aggregate supply exceeds aggregate demand
d. during periods of high unemployment
